Homeownership

The National Foundation for Credit Counseling (NFCC) and Divvy Homes are partnering to help renters take steps toward affordable, sustainable homeownership. The program, which also involves NFCC Member agency, Money Management International (MMI), will provide prospective home owners with access to a dedicated coach through the Envisioning Home Ownership (EHO) program announced in June of 2018. The coaches, all of whom are NFCC Certified Housing Counselors, will work with each individual to …Read More

The American dream—owning a home with a white picket fence—just may be alive and well. There are trillions of dollars’ worth of mortgages in the United States, with a surprisingly low amount of them in delinquency. That demonstrates that not only are Americans affording homes, but they’re doing it without missing frequent payments. If you want the same for yourself, you may find there are a number of things …Read More

You’ve saved for a down payment, you’ve checked your credit score, you’ve limited your debt and you’re ready to mortgage your dream home. But how thorough is your understanding of what lenders are looking for? In a 2018 analysis of more than 10 million mortgage applications, Lending Tree found that almost 1 in 10 loan applications are denied by the lender. Before you even fill out the application, make …Read More

Down payment. For many people, those two words are the main obstacle standing between them and homeownership. Whether you’re working toward saving 20 percent or another amount, reaching that goal may seem overwhelming. Of course, the more cash you offer in down payment, the less you’ll pay in the long run. Here are a few suggestions for ways to meet your financial goals and move toward owning your own home. …Read More

Conventional wisdom holds that buying a home is the best investment you can make, but despite rising rent prices across the country, many people are wondering if it’s still smarter to buy. While a home purchase may not be the best choice for everyone, if you’re focused on building a secure financial future, then the question of whether to buy or rent is a no-brainer. Why It Pays to …Read More

Q. We’ve used our credit cards too much and gotten ourselves into a stressful situation. We make a decent income, but the monthly payments are putting financial strain on our budget. We would like to get a home equity loan to pay off all these cards and just have one payment, but we do not qualify for a new loan due to our debt-to-income ratio. Not too long ago, my …Read More

Renting has, for a long time, been a stepping stone to homeownership. Yet, over the past 50 years, more Americans are renting for longer periods, with many never moving beyond that point. Additionally, rental prices are going up everywhere, while the availability of units has stagnated and even decreased in some markets. More restrictive lending in the housing market is a key factor to why more people are renting …Read More

Americans owe more than $1.48 trillion in student loan debt, according to Student Loan Hero. That sum is the result of 44 million borrowers or roughly two-thirds of students graduating from four-year colleges. Many people in their 20s and 30s with student loan debt wonder whether they can or should buy a home while they are still in debt. Some find they are perfectly capable, while others realize they are …Read More

According to Pew Research, nearly four in 10 adults under age 30 have student loan debt. If you’re among that number, becoming a first-time homebuyer can seem a bit daunting. However, with proper planning, you don’t need to worry that your student loan debt will keep you from qualifying for a home loan. Read on for six practical ways to make home buying feasible as you manage your student loan …Read More

For most people, a home purchase will likely be the largest purchase that they will make in their lifetime. So, it’s important to be as educated on the subject of home ownership as possible. In order to help you out, we have created a list of a few things to keep in mind when looking to see how much one can afford to spend on a house. How much …Read More